| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 52 | 13.8x | 17.3x | Around median | |
Growth | 38 | 6.9% | 7.1% | Bottom tier | |
Quality | 92 | — | — | Top tier | |
Safety | 21 | — | — | Bottom tier | |
Capital Return | 67 | 3.59% | 0.06% | Top tier | |
Momentum | 84 | 51.4% | -1.6% | Top tier | |
Sentiment | 79 | 8 | 3 | Top tier |
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Credicorp is a financial services group combining lending and banking through BCP and Mibanco, insurance through Grupo Pacifico, investment banking and wealth management, alongside digital platforms including Yape. The group generates income from net interest, fees, transactions, foreign exchange, insurance, and asset management; its profitability therefore depends on funding costs, loan quality, and its ability to increase customers' use of its digital services.
In quarter 2 of fiscal year 2026, ended 2026-06-30, net revenue reached 6.8 billion Peruvian soles, growing 11.3% compared with the same quarter of the previous year, while net income reached 2.0 billion Peruvian soles and diluted earnings per share were 24.78 Peruvian soles. The operating margin calculated by EL7 was 41.5%, compared with 41.9% in quarter 2 of fiscal year 2025, meaning that net revenue expansion was not accompanied by an improvement in this margin.
In quarter 2 of fiscal year 2026, ended 2026-06-30, loans increased 13.1% compared with the same quarter of the previous year, led by BCP and Mibanco, and return on equity reached 20.3%. The innovation portfolio contributed 9.9% of risk-adjusted net revenue, while Grupo Pacifico achieved a return on equity of 19.1% and investment banking and wealth management achieved 23.5%. These results demonstrate multiple profitability drivers, while lending growth continues to depend on activity in Peru.
Q2 FY2026
When: 2026-11-09
Net revenue growth compared with the 11.3% benchmark in the expected earnings announcement
Cost of risk compared with the 1.9% benchmark in the expected earnings announcement
The median target from 6 analysts was 473 dollars, within a range of 350 dollars to 480 dollars in the 2026-10-19 snapshot, a method that reflects growth and profitability expectations and is inherently inclined toward optimism. The industry-multiple valuation was 218 dollars, within a range of 187 dollars to 247 dollars, based on book value and a median multiple of 1.6 across 16 companies, measuring Credicorp's value when priced like its peers. The two methods do not converge; analyst targets are above the range of the industry method, reflecting the difference between pricing expected growth and pricing book value at peer multiples.
Figures in the text are as of 2026-10-20; the live price is shown at the top of the page.
Credicorp combines lending through BCP and Mibanco with insurance, wealth management, and digital services, generating income from net interest, fees, and transactions. In quarter 2 of fiscal year 2026, ended 2026-06-30, net revenue reached 6.8 billion Peruvian soles and net income reached 2.0 billion Peruvian soles. BCP and Mibanco led loan growth of 13.1% compared with the same quarter of the previous year, illustrating the importance of banking activity to the group's expansion.
On the 2026-08-14 call, management announced that Yape's customer base exceeds 16 million and that more than 5 million customers have obtained a loan through it. In quarter 2 of fiscal year 2026, ended 2026-06-30, the innovation portfolio, which includes Yape, contributed 9.9% of risk-adjusted net revenue, while fees increased 15.9% compared with the same quarter of the previous year, supported by Yape and BCP transactions. Lending through Yape is expanding from single-installment to multi-installment loans after learning about customer behavior, with growth concentrated in individuals and small-business activity developing gradually.
Automated analysis for informational purposes only — not investment advice.
Operating margin compared with the 41.5% benchmark in the expected earnings announcement
The risk relates to the exposure of some Credicorp customers in Peruvian regions and sectors affected by the phenomenon, including agriculture, fishing, and related activities. In quarter 2 of fiscal year 2026, ended 2026-06-30, El Nino provisions added approximately 27 basis points to the cost of risk, which reached 1.9%. On the 2026-08-14 call, management explained that the severity of the phenomenon could affect loan growth and return on equity in fiscal year 2027, with expected loss estimates being reviewed during September and October 2026.
Management explained on the 2026-08-14 call that the targeted return on equity of approximately 22% applies to the medium term over two to three years and is not specific guidance for fiscal year 2027. It maintained fiscal year 2026 guidance at approximately 19.5%, with upside potential conditional on how El Nino develops. For comparison, the actual return reached 20.3% in quarter 2 of fiscal year 2026, ended 2026-06-30, while achieving the medium-term target depends on the loan mix, fees, and expansion of digital initiatives.
The median analyst target was 473 dollars in the 2026-10-19 snapshot, within a range of 350 dollars to 480 dollars across 6 analysts. The industry-multiple valuation was 218 dollars, within a range of 187 dollars to 247 dollars, based on book value and a median multiple of 1.6 across 16 companies. The difference reflects analysts' pricing of expected growth versus pricing the company at its peers' multiples, so the two methods do not represent identical assessments of Credicorp's economics.